Parkland (TSE:PKI) Price Target Cut to C$55.00

Parkland (TSE:PKI) had its price objective trimmed by CIBC from C$57.00 to C$55.00 in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on PKI. BMO Capital Markets cut their price target on shares of Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. TD Securities increased their target price on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Royal Bank of Canada lowered their price target on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. JPMorgan Chase & Co. dropped their price target on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. Finally, National Bankshares lifted their price objective on Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parkland presently has a consensus rating of Moderate Buy and an average target price of C$51.54.

Parkland Price Performance

Shares of TSE:PKI opened at C$40.61 on Friday. The business has a fifty day simple moving average of C$42.86 and a 200-day simple moving average of C$43.70. Parkland has a 52 week low of C$32.14 and a 52 week high of C$47.99. The company has a market cap of C$7.14 billion, a P/E ratio of 15.44, a P/E/G ratio of 11.79 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. The company had revenue of C$7.75 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. Equities research analysts forecast that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a $0.35 dividend. This is a boost from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio is presently 53.23%.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total transaction of C$484,000.00. In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 2,500 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total transaction of C$110,000.00. Over the last ninety days, insiders have sold 42,392 shares of company stock valued at $1,867,999. 20.51% of the stock is currently owned by insiders.

About Parkland

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.